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Abraxis BioScience, Inc.
Abraxis BioScience Announces $100 Million Share Repurchase Program
May 8th, 2009
Abraxis BioScience, Inc. (NASDAQ: ABII), a fully integrated biotechnology company, announced that its board of directors authorized a program to repurchase up to $100 million of the company’s common stock. “The company's authorization of a share repurchase program reflects our continued confidence in the future of the business," said Patrick Soon-Shiong, M.D., chairman and chief executive officer of Abraxis BioScience. "We believe our shares are undervalued and that our strong financial position makes the purchase of our own shares a sound investment at this time.” Share repurchases, if any, will be funded by internal cash resources and will be made...
Source: Health Business Week (2009-05-08)
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